v3.26.1
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The following table presents Federated Hermes’ revenue disaggregated by asset class:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2026202520262025
Money market$252,636 $226,000 $509,820 $449,346 
Equity152,989 118,999 296,632 236,902 
Fixed-income49,035 48,286 97,721 97,720 
Other48,116 31,559 77,560 64,416 
Total Revenue$502,776 $424,844 $981,733 $848,384 
The following table presents Federated Hermes’ revenue disaggregated by performance obligation:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2026202520262025
Investment Advisory$337,721 $287,435 $657,129 $574,895 
Administrative Services110,117 101,657 220,402 202,766 
Distribution39,013 28,322 81,785 57,087 
Other15,925 7,430 22,417 13,636 
Total Revenue$502,776 $424,844 $981,733 $848,384 
For the three- and six-month periods ended June 30, 2026, Federated Hermes recorded performance fees, including carried interest, of $1.4 million and $1.8 million, respectively, which were recorded at a point in time and included in the investment advisory performance obligation. For the three- and six-month periods ended June 30, 2025, Federated Hermes recorded performance fees, including carried interest, of $1.4 million and $7.3 million, respectively, which were recorded at a point in time and included in the investment advisory performance obligation.
The following table presents Federated Hermes’ revenue disaggregated by offering type:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2026202520262025
Federated Hermes Funds$424,253 $357,446 $831,731 $712,795 
Separate Accounts69,786 62,088 136,789 126,175 
Other8,737 5,310 13,213 9,414 
Total Revenue$502,776 $424,844 $981,733 $848,384 
For nearly all revenue, Federated Hermes is not required to disclose certain estimates of revenue expected to be recorded in future periods as a result of applying the following exemptions: (1) contract terms are short-term in nature (i.e., expected duration of one year or less due to termination provisions) and (2) the expected variable consideration would be allocated entirely to future service periods.
Federated Hermes expects to recognize revenue in the future related to the unsatisfied portion of certain services, primarily stewardship services, real estate development performance obligations and renewable energy project development obligations at June 30, 2026. Generally, contracts are billed in arrears on a quarterly basis and have a three-year duration, after which the customer can terminate the agreement with notice, generally from three to 12 months. Based on existing contracts and the applicable foreign exchange rates as of June 30, 2026, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands)
Remainder of 2026$6,576 
20273,947 
20281,024 
2029 and Thereafter859 
Total Remaining Unsatisfied Performance Obligations$12,406